COP29 and International Climate Finance

Toby Perkins Excerpts

Wednesday 30th October 2024 Westminster Hall

[The Minister for Development (Anneliese Dodds)]

It is a real pleasure to serve in this Chamber with you in the Chair, Sir Roger. I am grateful to the hon. Member for North Herefordshire (Ellie Chowns) for securing this debate and speaking so powerfully. I will do my very best to answer her questions in setting out the Government’s approach to this genuinely critical area, which is so important for all our futures, particularly those of the poorest people in the world.

This Government are getting on with reconnecting Britain to the world and modernising our approach to international development in a spirit of genuine partnership and respect, as I set out in a speech at Chatham House a couple of weeks ago. That speech built on the Foreign Secretary’s lecture at Kew Gardens, in which he reiterated our view that action on the climate and nature crisis must be at the heart of everything that we do. I am grateful to the hon. Member for North Herefordshire for making reference to that; it is a genuine and important commitment. We believe that action on the climate crisis is critical to grow our economy and bring opportunities to people across our country and globally, and we know that our partners around the world share that ambition. When I was in Indonesia, for example, I was pleased to sign an agreement on critical minerals with the Government there, working on the climate crisis and green growth with them. We have a strong shared agenda, and we need to solidify that partnership globally.

[Mr Toby Perkins (Chesterfield) (Lab)]

I congratulate the hon. Member for North Herefordshire (Ellie Chowns) on securing this important debate. We have already heard that the UN has identified a need for £600 billion of additional private finance if we are to tackle climate change. Does my right hon. Friend the Minister agree that in the UK, due to the expertise of the City, we are uniquely placed to lead on that? Does she also agree that the UK delegation to COP in Baku must make an ambitious new goal for private investment in the climate a major priority?

[Anneliese Dodds]

As ever, I absolutely agree with my hon. Friend on every point. With your permission, Sir Roger, I will come back to the subject of private finance in a moment, as well as to the precise contours of our engagement around leadership in the COP system and, more broadly, in innovation in this area. I am grateful to my hon. Friend for raising those points.

We are clear that situations of extreme humanitarian need globally are so often driven by conflict and climate crisis—in fact, they are often driven by the two intertwined. I unfortunately saw that for myself in South Sudan, at the Bentiu camp for internally displaced people. People escaping the horrific civil war in Sudan are managing to make it to the IDP camp, but they are surrounded by floodwater. It is now a permanently flooded area, making an already horrendous situation worse. We need to recognise the fundamental impact that the climate crisis is having right now, as the hon. Member for North Herefordshire rightly underlined.

My hon. Friend the Member for Chesterfield (Mr Perkins) rightly mentioned the COP system. I will come to the climate COP in a moment, but the UK team is currently hard at work at the biodiversity COP—COP16—in Cali, Colombia. They are working with partners from around the world, from indigenous people to the presidency of next year’s climate COP in Brazil.

[Mr Perkins]

I am grateful to the Minister for giving way a second time. I have just returned from Colombia with a delegation from the United Kingdom at the biodiversity COP. I can report to her that there was huge support from across the world for the definitive action that the Government are taking and the leadership they are showing on nature and biodiversity. That should give her all the more confidence to make a strong case to those going to Baku.

[Anneliese Dodds]

I am glad to hear that. It appears that we are making strong headway in protecting and restoring the wonders of the natural world, both land and sea, including at that COP meeting. As the Foreign Secretary has said, we must consider nature along with climate when we face up to the problems and opportunities that arise from this situation. Nature holds so many of the essential, cost-effective solutions that can help us to meet many shared goals, including building climate resilience. It is important to consider both.

I am very pleased to be heading to Baku for the climate COP alongside the Prime Minister and the Foreign Secretary, who attended previously when in opposition. As well as coming forward with our own ambitious, nationally determined contribution for the UK at COP29, we are determined to support others to scale up their ambition and action. That includes initiatives such as the global clean power alliance, which the hon. Member for North Herefordshire may have heard mention of. That is a strong commitment from the new UK Government. We are determined to deliver greater political momentum.

The hon. Member for North Herefordshire talked about the relationship between domestic and international policy. For the first time, the UK is able to speak with credibility on this because of the new Government’s stating that we will not grant new oil and gas licences, removing the ban on onshore wind and introducing other measures. It shows that we are not just talking the talk—we are walking the walk. That kind of credibility is critical in these negotiations.

When speaking with our friends based on small islands and in fragile and vulnerable states, such as many of those the UK Government met with at the Commonwealth Heads of Government meeting in Samoa, we hear very loudly and clearly how difficult it is for them to access the finance that they need, especially climate finance. Very little of it is getting to those who need it, particularly fragile and conflict-affected states. The UK is determined to work with our partners to change that. I have prioritised, including at the World Bank annuals last week, trying to push hard for sources of climate finance and adaptation finance to be available. I am grateful to the hon. Member for Strangford (Jim Shannon) for mentioning the role of farmers. The proportion of climate finance that reaches farmers in the most fragile and conflict-affected states is minuscule, particularly for adaptation. That must change urgently.

I agree with the hon. Member for North Herefordshire that we must increase the level of dedicated climate finance from all sources across the causes and impacts of the climate crisis. We are determined to agree an ambitious new collective quantified goal; that is absolutely pivotal to our negotiations and vital to maintaining the global consensus of the Paris agreement and keeping 1.5° of warming within our reach. The UK is working extremely hard on this. The Department I am based in and the Department for Energy Security and Net Zero are working closely together and with our new climate and nature representatives. We have been carrying that forward at every opportunity.